2013-03-08 00:00:002013-03-08 00:00:00https://quickbooks.intuit.com/in/resources/general/the-best-way-to-bid-employees-good-bye/GeneralEnglishhttps://d3hrajprm8dqcv.cloudfront.net/wp-content/uploads/2017/05/08195358/employee1.jpgThe Best Way to Bid Employees Good-Bye

The Best Way to Bid Employees Good-Bye

In our previous articles, we have talked about various responsibilities of a young entrepreneur of a start-up, from hiring employees, training and grooming them to motivating them. But there is one other task too, which though nobody looks forward to, becomes unavoidable in certain circumstances. We are talking about those unfortunate instances when you have to let go of your employees. The Different Scenarios when you may have to let go of your employees: • Star Performer: This employee is the most difficult to let go of. He not only contributed to the success of the company but also made the work enjoyable. But now it’s time for him to move on as he feels there is no room for his personal growth or development, finds the work mundane and not challenging enough or just needs a change. • Neither here nor there: This is a good employee when he wants to be – i.e. one moment he is brilliant while the next, he can behave like a total moron. You are not too happy with his performance but still he keeps the cogs of the company moving. Furthermore, he is there when you want him to deliver. Though you are not too happy to see him go, you are a little relieved at some level when he resigns. • Good for Nothing: Hiring him was probably the biggest mistake of your professional judgement. The employee’s performance is not up to the mark and you can never count on him to deliver. You can’t wait to see his back and fire him at the first serious opportunity you get. Tips to Bid Employees Goodbye Most Amicably: • Respect his Decision: If the employee expresses a desire to leave, find out what was troubling him and offer to change that to the best you can. But if he unwilling to continue despite the changes offered, let go of him. Understand that your employee has given his fullest to the company and now his priority has changed. It’s not good for either your company or the employee if he is not motivated enough to work with you. • Part Amicably: It’s a small world out there. You never know when you may cross paths again. Remember, with the influence of social-media on our lives, one bad word from the employee can put a serious dent on your company’s reputation. Part on amicable terms so that if you ever meet again, it will be with no hard feelings. Also, you never know when you might need his assistance in the future. • Token of Appreciation: One of the best ways to bid employee goodbye is to throw a small party in order to recognize and appreciate his hard work and commitment. Invite other staff members too. Give him a token gift or an inscribed souvenir (clock, pen stand, photo frame etc) to remind him of happy times he spent with you. This will also serve as a morale booster for other employees when they see you appreciating dedication and loyalty. • Recommendation Letter: Give the parting employee a decent Recommendation Letter (an outstanding one in case of your star performer) so that it becomes easier for him to continue his professional career in dignity. • Open Job Offer: Though this one’s not for the employee you fired, you might want to consider it for the other employees. Let him know that if he ever wants to work with you again in the future, he can contact you without any hesitation. You will be more than happy to accommodate him in a role (if available) that does justice to his qualifications and ambitions. Bidding your employees goodbye is not as simple as it sounds. What feelings did you experience while letting your employee go?

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.